UK retailer BHS to go into administration - source with knowledge of plans

LONDON, April 24 (Reuters) - British department stores group
BHS is expected to go into administration, possibly as early as
Monday, a source with knowledge of the company's plans told
Reuters on Sunday.

Administration would endanger nearly 8,000 jobs at the
company and another 3,000 contractors working with the
88-year-old firm, which has 164 stores, and has been hit hard by
intense competition in the retail sector.

In March, the group had won support from its creditors for a
rescue plan to try to allow the retailer to stay in business
thanks to big cuts in its rent bill.

The chain was bought in March 2015 by buyout firm Retail
Acquisitions, a collection of little known investors.
($1 = 0.6940 pounds)
(Reporting by William James; Editing by Alison Williams)